BANKING & FINANCE - Nov. 1, 1994
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Rates Unchanged on Short-Term Treasury Bills: The Treasury Department sold $13.7 billion of new three-month bills at an average discount rate of 5.07%, unchanged from a week earlier. Another $13.8 billion of new six-month bills was sold at an average discount rate of 5.51%, unchanged from the week before. The new discount rates understate the actual return to investors: 5.21% for three-month bills, with a $10,000 bill selling for $9,871.80, and 5.75% for a six-month bill selling for $9,721.40. The discount rate reflects the price discount received when government securities are purchased at less than face value.
T-Bill Auction
3-month: 5.07%
6-month: 5.51%
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